Well, well, well... hmm... how do I paint a picture of what happened today? I was sipping my coffee and enjoying the greenery featuring the major market indices. I caught myself patting myself in the back for holding the fort from yesterday's sellout. It's going to be a different day today, I said to myself.
Then, it happens. Shortly after 10--it was 10:10 US Central to be exact--the green picture in my head was no long there. It was replace by three red bars--a left hook, a right hook, and an upper cut. I got a hold of myself to maintain my balance. The rest of the day was, how do I put it, mind blowing.
How long can we play this red light green light market game?
- Not sure how else I can tell the story here.
- They all red.
- Of the 11 sectors, Utilities and Healthcare were the only ones able to survive the red light green light shenanigans today. Mind you, both these sectors were green today.
- Consumer Discretionary and Communications were not so lucky.
- This is how it ended today.
- Intentionally left blank. That's how I roll in days like this.
- SPY continues to dip.
- Relative strength index landed at 29.99.
Note: Not a recommendation. Please consult an investment professional before making investing decisions.